MARKET UPDATES :
- UNITED Overseas Bank’s chairman, Hsieh Fu Hua, has been appointed the independent chairman of risk solutions group, ACR Capital Holdings.Mr Hsieh, who is also a director of GIC, replaces Thaddeus Beczak who has stepped down after leading the board since ACR’s founding in 2006
- INDONESIA’S second-biggest agricultural company Japfa opened firmer as it made its debut on Singapore Exchange (SGX) on Friday morning, opening at 84 Singapore cents – up from its initial public offering (IPO) price of 80 Singapore cents – and climbing to 86.5 Singapore cents during morning trading.
- Singapore sovereign wealth fund GIC said on Friday it has acquired an 18.5 per cent stake in Brazilian education services company Abril Educacao SA .GIC did not say how much it paid for the stake in Abril, a leading player in Brazil’s primary and secondary education market. Based on Abril’s latest closing share price, the stake is worth about US$265 million.
STOCK RECOMMENDATION :
- BUY SINGAPORE TELECOMMUNICATION LIMITED ABOVE 3.920 TG 4.120,4.300 SL 3.780